Friday, March 03, 2006

Quick Overview

  • Future moves in official U.S. interest rates will be closely tied to incoming data, but for now the Federal Reserve does not need to push rates beyond neutral, a top central bank official said on Friday.

  • The ISM index of services increased from 56.8 to 60.1

  • The University of Michigan's consumer sentiment index dropped from 91.2 to 86.7

  • YoY consumer prices in Japan were up 0.5% in January.

  • An index of services in the Euro zone increased from 57.0 to 58.2

  • Informa Economics said expects the U.S. to produce 22.45 million bales of cotton in 2006-2007, down from 23.7 million bales the previous year. They forecast 119.7 million bales of world production in 2006-2007.

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